larry: thanks for watching. that is larry kudlow. have a great weekend. maria: good monday morning, everyone. thanks so much for joining us, i'm maria bartiromo. it is monday, march 6th.

your top stories right now, 6:0. stocks are fractionally moving this morning. we've got a big day and a big week. take a look at where we stand. dow industrials right now down about 6 points, s&p 500 up just one and-a-half and the nasdaq higher by 15. as markets focus on the federal reserve chairman jay powell's two day testimony before congress happening tomorrow and wednesday. the february jobs report also out this week on friday, we've got all hands on deck on i'll all of the economic data coming up. check markets last week, the dow s&p and nasdaq up better than 1.7% on the week. dow industrials up 1.7%, nasdaq up 2 and-a-half percent, and s&p 500 higher by about 2% on the week. s&p 500 coming off its first positive week in four. eurozone, ft 100 right now trading lower by 26. cac in paris is up 33, and dax index in germany higher by 53. in asia overnight, mostly green

across the board. shanghai composite the one weak spot in china. china by the way setting its growth target of around 5% for the year. we'll see how that works out. kospi index overnight up 1 and a quarter percent, nikkei up 1.1%. back in wa washington, new evide in the investigation of the origin of covid-19 of. the first hearing happening wednesday to probe why scientists changed their theory weeks into the pandemic and changing their story completely after a phone call with doctors fauci and collins. ohio congressman jim jordan discussed it on sunday morning futures with me yesterday. >> the fundamental question is why was dr. fauci so consumed with making sure the narrative wasn't about the lab. i think it's because they were doing gain of function research there. he didn't want that out. and that was the narrative that everyone on the left bought into, even though the facts and common sense maybe most of

importantly pointed to the lab leak theory. maria: coming up, more on the potential coverup. gordon chang is here in you few minutes, at 6:1 6:10 a.m. join us for gordon. "mornings with maria" is live right now. ♪ i'm every woman. ♪ it's all in me. ♪ anything you want done, baby. ♪ i do it naturally. maria: investors are looking ahead to federal reserve chairman's jay powell testimony before congress this week, it begins tomorrow and thence wednesday the senate finance and house finance we will preview that this morning. it's been almost a year to the date since the federal reserve began raising interest rates. ithe date is march 16th. markets are pricing in another 25 basis point hike at the next meeting for the february, march 21st. joining me is the horizon investment chief investment

officer, scott ladner. also joining the conversation all morning long is radio show host and the president of markowski investments, chris markowski. pollster and the president of maslansky and partners is here, the author of persuasion, lee carter. thank you so much for being here. scott, kick canning things off with you. what are you expecting from jay powell in the upcoming two days? looks like the markets seem to be pricing in that the fed is coming to an end on the rate hikes. are you buying it? >> look, i think we're probably in a seventh or eighth inning of this rate hike cycle. powell this week is probably going to be pretty clear about the fact we've had stronger growth in february, so december was all about pricing -- the market pricing growth to be coming down, the fed rate cycle becoming really close to the end and then then we've got januard february data and it was pretty strong of. this is a case where it's probably not a good idea to bet

against an employed u.s. consumer and bet against china consumers coming out of a lockdown. he'll probably say listen, we're getting strong growth to start, we may need to keep going on the ate hikes for a little longer than the market was expecting. maria: a lot will factor into the jobs numbers and that will be one issue that the fed is looking at. we're gotting the adp number ons wednesday, then we get the february jobs report out on friday, the expectations right now, 200,000 jobs added to the economy in the month of february and the unemployment rate holding se steady at 3.4%. scott, i'm wondering if we're going to see a significant revision for january as well. >> i think that's the only thing you can be sure about when you're talking about jobs reports is that we're going to get big time revisions. there's a lot of wonkiness associated with the pay roll numbers the last six to nine

months, having to do with covid and seasonal ad justments adds -- adjustments and everything else. you don't have to rely on one number to figure out the jobs picture. it's important. the payroll number will be important. we need to look at job openings, wages, look at adp be. there's a plethora of indicators to look at to get a pretty good grasp of what's going on if the jobs market and that overall picture saying that it is remaining pretty strong, maybe not as strong as 500,000 number that we got in january would suggest but still pretty robust labor market given what's going on with the fed. maria: chris, tell us what's priced into the market already. do do you want to be adding to your portfolio here in stocks, chris? >> absolutely. again, this is where the real money is made in the markets is when obviously they back off to some degree and i look at things differently when it comes to the higher rates. for what my clients, i take a look at their cash positions and i'm actually getting some rate of return. where the federal reserve

basically took a tool out of my toolbox for years. a lot of this cash position and my clients' portfolios are getting a yield, not to mention this will help pension funds around the country rebuild as well. they have to keep a certain amount of money in cash and cash equivalents where they're getting return right now. you can look at periods when rates were this high, back in the 1990s when our careers started, rates were higher back then and marchs gets did quite well. maria: what about that? how do you want to allocate capital here? >> i agree, we agree with chris. the next few months will probably be choppy but you do have china reopening, you have the billions of consumer coming back around spending money, you have the employed u.s. consumer. that tends to be pretty strong. consumer spending drives earnings. earnings drive markets. and as you guys alluded to, this is a market that's getting used to rates with a 4 and 5 handle. it takes some time to get used to but time heals some of these

things. we think this will be a pretty good market for the rest of the year. maria: one thing is positive, we're seeing ipos and deals happening again. maybe there's life in capital markets. we have soft bank wanting to do a deal in terms of an ipo, you've got a couple of deals within healthcare. so maybe some life there after a dead year for capital markets in terms of ipos and m&a. that's a positive. scott, it's good to see you. thanks very much for weighing in on all of that. >> thanks, maria. maria: we're just getting started. coming up, he deception running deep, new evidence dr. anthony fauci tried to intentionally disprove the wuhan lab leak theory before the american people got to hear about it hear what judiciary chairman and ohio congressman jim jordan told me yesterday. chris rock slapping back on woke ofness. it's making a buzz this morning. don't miss that. you're watching "mornings with maria" live on fox business.

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>> and then on january 31st, 10:32 p.m., 2020, dr. fauci gets an e-mail from dr. anderson which says virus looks engineered, not consistent with evolutionary theory. then gets another e-mail from dr. gary which says i don't know how this happens in nature, it would bees to do in a -- it would be easy to do in a lab. the same day, february 21 tst, 2020, dr. fauci organizes a conference call, him and dr. collins get on there with dr. gary, dr. anderson and three days later everybody changes their story. maria: that was ohio congressman, chairman of the judiciary committee, jim jordan on sunday morning futures with me yesterday telling me he thinks dr. fauci was trying to

intentionally disprove the wuhan lab leak theory because of the gain of function research being done there and the fact his agency was paying for it. the house select subcommittee on the coronavirus holding the first hearing on the virus origins on wednesday. joining me now is the gatestone institute senior fellow, gordon chang. the plot thickens here, initially the scientists all said he it looks like it was engineered in a lab. and then of course fauci moves quickly to try to come up with new research to prove otherwise. your thoughts? >> yeah, fauci had certainly a lot of incentive to change the narrative. got to remember, in 2014, president obama imposed a moratorium on federal funding of gain of function research in the united states so what did fauci do? he started funding gain of function research in the wuhan institute of virology and we know that, maria, because there are two published papers, one from 2016, the other from 2017,

and both of these papers are from researchers at the wuhan institute of virology, they both describe gain of function research and both of them specifically acknowledge funding from fauci's national institute of infection diseases. fauci has a lot to explain. basically, what he did was, he helped the chinese biological we weapons lab develop the technology on coronavirus that killed people inside and outside of the country. maria: it's interesting to see this. he basically didn't want to look bad, take that he's over there directing money to the eco health alliance which ultimately sends the money to wuhan. he doesn't want to look like he's part of the reason for covid-19. he just masks the actual true origin. >> yes. that's exactly what happened. maria: wow. yeah. >> we see this relationship with eco health is suspicious in

a number of different aspects. maria: what do you mean? >> well, the funding of eco health was covered up to the extent fauci could. obviously, there's was a money trail there. but peter daczk was close with the wuhan institute. he's not been forthcoming ifs is relationship. he has been involved in a number of deceptions. when you put that together, it shows that fauci had a lot to hide. maria: really interesting. we're learning so much about the communist party of china and its goals and you've written about this many years ago and we've been on this for many years on this program. finally, it looks like some in corporate america are beginning to get it, are beginning to understand the national security risks and it's not just about the greenbacks making money in china. we had billionaire investor mark mobius on last week.

he's raising a red flag about doing business in china. what are your thoughts on corporate america. are they pulling back? >> i have an account with hsbc in shanghai. i can't get my money out. the government is restricting flow of money out of the country. so i would be very, very careful investing in china. what we're doing is going into hong kong, which seems to be a little more open and able to get money in and out. putting money into china, i think you have to be very, very careful. maria: gordon, others are looking to india for a potential place for production, you away from china. what are your thoughts here? you have a lot of companies traded every day in these major indexes like the msci, the morgan stanley emerging markets index that gears money, u.s. investor money towards companies in china that may likely be tied to the chinese military, gordon.

>> yes. and we're seeing really changing ininvestment attitudes. part of it is china's poor economic performance. they reported gdp growth last year. they were fooling with inflation numbers. it was more like negative 3%. the chinese regime has been pushing companies out and that i think accounts for mobius' change in opinion. he was bullish in october of last year. you now you can sees understood how bad things really are in china. maria: and increasingly people are understanding the surveillance had that is that ig in china of the whole world. the wall street journal this morning is reporting that china is going to be creating a new data regulator. we know they're gathering lots of data on all of us. your thoughts on this new data regulator? also, by the way, the government in china is boosting military spending by 7 and a quarter

percent this year. in u.s. dollars. that's up nearly $16 billion from 2022 as the u.s. warns of a potential chinese invasion of taiwan in the near future, gordon. interesting to see the importance that china puts in its military spending whereas we're fighting over what to cut. >> yes. well, you know, the 7.2% increase contrasts with the growth target of only around 5%. but people in china know they're not going to really grow 5%. so that shows the increasing importance of the chinese military in the political system. you know, you you contrast these numbers with those for 2022 where they had a 7.1% increase announced and they only grew 3.7% as reported and probably as i said contracted. that shows the military is using its influence to get a larger and larger share of the resources of the chinese regime. maria: okay. all right. well, we're going to be watching

this. mike gallagher was on the show recently, he said he thinks that the invasion of taiwan happens in 2024. that's the emergency year that he's worried about. it's always a pleasure to talk with you. thanks very much. you've been spot with all of this. >> 00 that you, maria. maria: quick break and then another norfolk southern train derailed in ohio. pete buttigieg would rather make fun of what he calls the east coast elite. we're on it, next. ♪

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maria: welcome back. well, another norfolk southern train derailed over the weekend in ohio. this is the state's second he derailment in just over a month. and the fourth norfolk southern train to derail in less than five months. authorities say there were no has arrest you the does -- were no hazardous materials on the train. transportation secretary pete buttigieg responding to trump and critics who say he took way too long to visit east palestine. this is what he said this morning. it is really rich to see some of

these folks who are literally life long card carrying members of the east coast elite who wouldn't know their way around a t.j. maxx if their live depended on it to be presenting themselves as if they p generally care about the forgotten middle of the country. this what is we hear from pete buttigieg after several trains derailed, lee carter, and one of them has cancerous causing items in the air, ground and water. this is what he said. >> yeah. i'm not sure who is more out of touch with middle america, is it pete buttigieg, is it joe biden, is it kamala harris? i'll tell you one thing, americans are on to this. when you look at polling, 31% say biden and his administration have given enough attention to o issues that matter most to them. 27% of independents think

democrats are focused on things that matter to americans. the deflection here is not going to work. i think the american people know what the democrats aren't focused on the issues that are most important. what mayor pete really did here was miss a huge opportunity. he could have talked about the importance of infrastructure, he could have talked about some of the things they're doing. instead he uses it as an opportunity to attack republicans. that's what people are tired of. maria: he's calling republicans yelites. look who is talking. he drivers an suv halfway to work, bikes the rest of the way to make believe he's on a bike. then he says on private time, on paternity leave with the biggest supply chain crisis we've had, followed by being mia in the train derailment which is causing people to be you afraid for their lives. >> politics, let's divert. remember they did this with

george bush back when he went to the grocery store and made him look like he didn't understand how a checkout line would work. in regards to this train derailment, what i find fascinating, this is the question i have, there's over 1,000 train derailments a year in the p country, 400 are caused by track defects, 500 to 600 are caused by human error. you want to solve the problem, we have to start building pipelines and start getting a lot of these hazardous materials off of the train tracks. not to mention the fact, explain to me how a 19th century technology is failing so much? maria.maria: i would like to kw where the $1 trillion has gone from that infrastructure package. and how it's possible that we keep seeing derailments. did any money go to the tracks? we're going to take a break. when we come back, growing violence against agents at the southern border, wait until you see what took place this weekend. one top democrat says the crisis is getting better. we're going to check in on that and talk with national border

patrol council president brandon judd on whats he's seeing on the ground. walmart forced to shutter its doors in this american city, we'll tell you why, next. ♪ when my mind is wandering. wa. ♪ there i will go. maria: this week on "mornings with maria," tomorrow, congressman john joyce on the fbi finally acknowledging the wuhan lab leak. wednesday, home depot co-founder ken langone on the business environment under joe biden. thursday, former secretary of state mike b pompeo reveals his plan to counter communist china. friday, the february unemployment rate revealed live right huer. it's all right here on "mornings with maria." g me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep,

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us this morning. i'm maria bartiromo. it is monday, march 6th. take a look at markets ahead of a busy week, dow industrials down a fraction, down 9 points, s&p 500, down a quarter of a point, nasdaq higher by 7 and-a-half. futures are starting mixed as we start first full market week for march, all three major indices rose last week, best performer was the nasdaq, up 2 and-a-half percent, s&p 500 up 2%, dow industrials down -- up 1 and three quarters percent on the week. there are some signs of strength offsetting investor fears of more rate hikes to come. all of this as we look you head to the february jobs report and adp number this wednesday, we have a lot of jobs data this week, 200,000 jobs is expected to have been created in the month of february. the unemployment rate is expected to hold steady at 3.4%. chaos in atlanta to report this morning, protesters are facing off with police. they set fire to a new cop

training facility. cheryl's on it. good morning, cheryl. cheryl: good morning, maria. atlanta public safety training center under lockdown this morning. atlanta's police chief reporting multiple arrests connected to these riots. >> law enforcement officers, if you damage equipment, you're breaking the law. this was a very violent attack, very violent attack. this wasn't about a public safety training center, this was about anarchy and the attempt to destabilize. cheryl: dozens of state troopers and atlanta police swarming the scene as protesters torched construction equipment, smoke and fire visible for miles. earlier this year a major riot caused property damage and injuries in downtown atlanta. active visits have bee protestig for months now. well, at least 11 people are dead, hundreds of thousands without power after high winds and flash flooding slammed the

south and midwest over the weekend. kentucky had four storm related deaths with wind gusts hitting 60 to 806 miles an hour. -- 80 miles an hour at times. severe winter weather continues to loom throughout california as the national guard helps residents dig out from the snow, 100 miles from la. last week's winter storm brought 12 feet of snow to the mountain region, one trapped resident writing out help us in the snow. people were trapped in their homes for more than a week, running out of essential supplies. forecasts indicate another one to four feet of snow will blanket parts of southern california this week. stay with fox weather for extended coverage on the latest storm. walmart announcing it's going to close all locationses in portland, oregon. the super store saying the city's two locations did not meet financial expectations. employees at these locations are going to have to either transfer

to another walmart outside of the city or, well, find another job. the closures will affect 580 employees and obviously crime in portland has been an issue for the stores. shares fractionally lower in te premarket. the music world lost a music legend over the weekend. the original guitarist with lynn withlynrd skynrd has died ovee weekend. ♪ sweet home alabama. ♪ where the skies are so blue. ♪ sweet home alabama. ♪ lord, i'm coming home to you. cheryl: he performed with the rock band for five decades. he was one of the survivors of a

plane crash that killed ronnie van zandt and five others. gary rosington was 71 years old. and those are some of your headlines. back to you. maria: cheryl, thanks very much. we are looking at the border right now. the wide open border. illegal migrant in tucson, arizona is being accused of violently assaulting a female border agent. customs and border protection released a statement yesterday saying that during the arrest the illegal migrant attacked the agent, injuring her hands and her face, forcing her to receive medical care. since october of last year, 193 southern border officers have been assaulted. that is just part of the story as you know. joining me is the national border patrol council president, brandon judd. brandon, how much danger are our border patrol and your colleagues in right now? >> extreme danger. if you look at this exact same area, two weeks ago we had an agent that was drug in a vehicle

for 400 yards before he was able to extricate himself and take that individual into custody. we're seeing the criminals know there's going to be no he repercussions if they violate our laws. they know they can do whatever they want to try to generate as much possible of as they -- as much profit as they can and u.s. attorneys aren't doing anything about it and that's one of the serious problems we're seeing and that's one of the reasons we're seeing such a crisis on the border. until we actually enforce our laws the way the law was supposed to be enforced we're going to continue to see this chaos. maria: you know, i think you just hit on something really important, and that is the drug cartels have our number, okay. these drug cartels who are operating with military-like equipment that, you know, mirrors what you're seeing in the mexican military, they know exactly where our border patrol are, they know what areas of the border are free to send human trafficking and drugs and where the officers are.

how are they doing that? is it drones how are they so knowledgeable about what we're trying to do on the other side? >> well, they look at our policies and they always operate within our policies and that's the main thing. we have to look at what we can do to counter act everything the cartels are doing and it all starts with policy. doesn't start with money or more resources or more infrastructure. it starts with the actually policy which doesn't cost the taxpayer dollars. if we do that, we can locate all of the drones, we can locate where their infrastructure is, we can locate where they're surveilling us from. if we can do that, we can go after their products and save american lives. it's all about saving american lives. and if we don't do that, we're going to continue to see people in ohio, in nebraska, in they pennsylvania, in iowa, we're going to see mass casualties throughout the entire united states if we don't get this under control and right now it's just absolutely not under control. regardless of what certain

politicians will tell us. maria: so disturbing. i know rio grande border officers arrested five gang members last week, all with extensive criminal records, all outstanding warrants. at least one of those suspects an alleged ms-13 member. you've got terrorists coming in. house minority le lead hakim jeffreys went to the border last week. he went on tv, praising biden's handling of this. watch this. >> well, based on my visit to the border, what i have seen is that some of the steps that president biden and the administration have taken over the last few months have certainly reduced the flow of illegal border crossings. maria: brandon, you are there every day. is that what you're seeing? >> no, absolutely not. had that's really, really frustrating especially when it's coming from politicians. if he's not fact checked then it becomes absolutely true and that's the problem we face all the time. we're seeing the main stream

media is covering for him. he didn't cite statistics, he didn't cite anything. he got on tv and announced political rhetoric. if you look at the actual facts, we have more got aways in the month of february than we did in february of '22. we set a record in february of '22. so in february of '23 we have more got aways. when you look at the number of fentanyl coming across the border, it's higher than ever. all of these take is the i all of the -- statistics, all of the facts clearly show that what minority leader jeffries said is absolutely not true but of course he doesn't go on there and he doesn't give us actual facts. facts matter. and a he must be fact checked and he must be fact checked by the mainstream media. if the american people understand what's going on, they're going to push back against this current chaos that exists and we can get it under control and that's what's so frustrating to us. all of the men and women that put on a uniform, we know we can control this. we just can't do it if we have

politicians that are going to he deflect and lie to the american people. maria: well, when we look at the facts, we know that under the trump administration border crossings were at a 20-year low. joe biden walks into the oval office and starts reversing all of trump's executive orders and border crossings shoot up to a 40-year high. i know you were with president trump over the weekend at cpac and trump called you out, thanked you during the speech on saturday night. mere's a bit of president trump this weekend. watch. >> when i'm back in the white house, the first reconciliation bill i will sign will be for a massive increase in border patrol and colossal increase in the number of i.c.e. he deportation officers. [cheers and applause] >> we will use all necessary state, local, federal and military resources to carry out the largest domestic deportation operation in american history. [cheers and applause]

maria: brandon, is that what's needed? what are your thoughts in terms of president trump talking about putting new rules in place and hiring more border agents? >> there are two magnets that draw people to cross our borders illegally that allows the cartels to advertise services throughout the world. ones is that everybody knows if they cross the border illegally and claim asylum they'll be released into the united states. that's the first magnet. the second mag in net is the fact that -- magnet is the fact that nobody is deported. if we started deporting people, if people lost money, if people knew the money was going to be lost, they're not going to come. so those are the two policies that we have to have. we have to go after the fake asylum claims and we have to actually go after the people that never show up to court appearances. if we do those things, these numbers will drop exponentially. the policy announcement is huge for all of law enforcement.

it makes us very excited if we know that policy is ultimately going to come. mabrandon, thanksfor your leader your work on all of this. you're doing a great job and we appreciate you. thank you. >> thank you, maria. appreciate it. maria: brandon judd arizona. chris rock taking to the stage again, this time to call out prince harry and meghan markle's wokeness. it's making a buzz this morning. and what did he say about the infamous slap, coming up. you're watching "mornings with maria" live on fox business. ♪

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>> everybody trying to be a victim, like what's this girl, meghan markle. still going off, complaining, acting all dumb like she don't know nothing, going on oprah, i didn't know. some of that [bleep] she went through was not racism. it was just some inlaw [bleep] maria: it is time for the hot topic buzz.

thats was chris rock calling out the woke hollywood establishment and meghan markle during his new special on netflix, called selective outrage. lee, i haven't seen the whole thing. i can't wait to watch it. i am thrilled that chris rock is at it again because i was really feeling bad after that slap. >> you know, i've got to say, i watched it and i thought it was hilarious. nobody is safe in this. he goes after some issues that are on the right just as hard as on issues on the left. the ideas he communicated he did in such a funny way. i think the concept of selective outrage was so funny. i think it's what so many people are frustrated with. the hypocrisy that follows so much of the selective outrage. he talks about how people will not play r kelly but they'll play michael jackson. he went into all a of these issues. it was hilarious. the other thing he did, he talked about how people need to stop playing victim.

it's not that bad. he's a celebrity. he had something happen to him. he's not going to play victim, not going to cry to oprah or gayle king. he's going to do what he does best. he dropped his mic at the end of the night. he deserved to drop his mic. the other thing that's amazing is that comedians came out and supported him in droves. if you look at what everybody said about him, dana ca carve. everybody thought it was a fantastic performance. i think he made the most of a difficult situation. maria: i hope he makes a lot of money of it, chris. >> halfway through, i had to get up early for you this morning, maria, so difficult time seeing the entire thing. i'm glad to see comedians are leading the way. the pendulum has to swing back. we've gone so far into the woke direction and you've got guys like rock and chapelle and all these great comedians that are pushing back against this and allowing us to have fun with one another and to laugh and make fun and not to take ourselves so seriously and chris rock did a

great job. i got halfway through. i have to watch the other half. maria: we haven't told our audience what he said about the infamous slap that's coming up later on in the p program. we're going to talk about will smith's slap heard round the world. hear what psychiatries rock said -- what chris rock said about that and how he slapped back in his netflix special. coming up, one crypto lender puts pressure on the digital space, why it's suspending payments and what that means for you, next. ♪ y how's it going to be when yu don't know me anymore. don't know me anymore. ♪ how's it going to be. ♪ ness get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars

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maria: welcome back. crypto bank silver gate capital shutting down crypto payments days after raising questions about the firm's viability. bitcoin and ethereum falling on the news, wiping out nearly 24 had billion dollars in market value. bitcoin, ethereum and light coin down this morning. actually, ethereum and bitcoin are up fractionally. joining us now, in anthony jiorjadis. thank you for being here this morning. why was this so important and a market mover. >.>> this is a monumental moment in the crypto space after seemingly crazy event after event. silver gate has been an a unsur

unsurmountable financial institution in the crypto world, the go to institutional provider for deposits in the crypto space. seeing this exchange, sill gear gate exchange -- silver gate exchange network go down is the tip of the iceberg with respect to everything we've seen in the space and what's to come on the institutional side. maria: and we haven't n even seen a framework for regulation, anthony. let's talk about regulating crypto. voyager digital is planning to repay creditors in bankruptcy using new crypto coin. a u.s. s.e.c. attorney pushed back on the proposal, saying this should be regulated. we don't know what kind of framework the regulators are considering. >> the regulation in the space is something that's just quite confuseing to a lot of players in the space. a lot of crypto institutions, whether venture capital funds,

startups, web three players, whatever it might be, are actually waiting for regulation. the sort of questionable gray zone framework that we've seen so far from the s.e.c. and if you look even back into the case of voyager, they've come out and said that this may or may not be a security under section 5 of the securities act of 1933. so this kind of fickle regulation by enforcement rather than setting out a clear framework is going to have a cascading effect. crypto is not necessarily going anywhere. the u.s. consumer is 20% of americans have crypto today. if we don't come up with clear guidelines and framework to regulate crypto in the u.s., and set the rules for engagement, what's going to happen is we're actually going to fumble the ball. we're going to see a ton of innovation, resources and institutions continue to move offshore and unfortunately the s.e.c. whose job is to protect the investor is unfortunately going to have a situation where

a lot of those investors are now looking for more gray zones or offshore resources to d to da bn the space that could have been regulatessed john hour. maria: you don't see the confusion when it comes to block chain. those are different things. the cryptocurrency area of the market has become muddied because of the scandals and issues. block chain is very much looked at as a growth vehicle for a number of industries including financial services, anthony, right? >> absolutely. i think one of the larger issues on the regulatory sides especially in the u.s. is that you have multiple regulatory bodies, the s.e.c., the cftc, you also have state by state led regulation and so congress really needs to come in and actually set forth who exactly is supposed to regulate what and i think to your point there might be some confusion with respect to crypto versus block chain versus web three and where

the regulation p comes into play. you look at japan, they have one regulatory body, the financial services agency which sets all crypto regulation and they're probably one of the best frameworks around the world with respect to what crypto might look like tomorrow from a regulatory landscape. maria: chris markowski, jump in here. >> my question is this. we take a look at all the financial fraud that happens over the course of the year and last year was a record year and that's the s.e.c.'s job is to go over this. what type of budget are we going to be talking about here? how much are we going to have to spend -- we can't handle what we're dealing with right now then we're going to add crypto on top of that. i'm almost at the point where it's buyer beware at some point in time, you know what, you decide you want to get into the area of the market. guess what? all power to you but good luck. >> the end of the day, the way think about it is, crypto is not necessarily going to go anywhere. crypto is not going to be banned. there's sufficient amount of

institutional adoption that's come into play with institutions like blackrock, bny melon recently. to your point, there is going to be a concerted investment that needs to go in the space to actually set up the clean regulatory environment and what that framework looks like but on the flip side, if we don't actually put that investment in today, we're just going to see ourselves losing out on the next wave of innovation that's effectively going to move offshore so it depends on what the tradeoff is, short-term versus long-term here. maria: we will leave it there. anthony, great to get your insight, thank you. we will see you soon. the next hour of "mornings with maria" begins right now. ♪ maria: and good monday morning, is time for the word on wall street. joining me is michael lee strategy founder, michael lee and chief market strategist, katherine rooney vera. great to see you. katherine, with a quiet market,